Weekly Financial Market Summary - Jan 7

The Forex market started the new year with mixed results. For the week ending January 4, the JMD weakened against its North American counterpart, while it strengthen against it European counterparts, namely the Euro and British Pound. Year to date, the JMD has depreciated by as much as 13.52%, when compared to the USD, CAD and GBP. On the other hand the JMD saw a 9.10% appreciation against the Euro, to date.

The Forex market started the new year with mixed results. For the week ending January 4, the JMD weakened against its North American counterpart, while it strengthen against it European counterparts, namely the Euro and British Pound. Year to date, the JMD has depreciated by as much as 13.52%, when compared to the USD, CAD and GBP. On the other hand the JMD saw a 9.10% appreciation against the Euro, to date.

The Jamaica Stock Exchange closed the first week of the new year on a positive note. Both the Main and Junior markets advanced this week. The JMMB Group was the top performing main market stock this week as it appreciated by 16.85% to close the week at J$33.08. On the Junior Market, Everything Fresh was the top performing junior market stock, appreciated by 20.92% to close the week at J$1.85. This come on the backdrop of the company announcing a letter of intent to acquire a local meat processor and venture into manufacturing.

In the international financial markets, the S&P 500 as well as the Dow Jones showed some positive sign as the major Indices attempt to rebound after a tumultuous end to 2018. The Nikkei continues to decline, with year to date performance already at -2.26%. Yields on all tenor of US Treasury declined this week as investors closely monitor US-China trade talks.

Check out full report here.